When Thou Shall See Competition, Thou Shall Rejoice!

Many entrepreneurs melt like ice in the presence of fire when they hear about their competitors. They fear so much that they would rather quit than face competition.

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Competition is necessarily not bad for your businesses, your approach to competition/competitors is what tells us whether it’s bad for you or not.
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Consider competition this way.
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1. Competition tells us that you operate in a viable space, meaning that there is gold to mine in the line of business you operate.
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2. In other words, if there is no competition whatsoever, maybe you should not be in that line of business. It just might mean it isn’t viable. You possibly can’t be the first in the world to try that business.
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3. Competition makes us better entrepreneurs. They get you on your toes and this increases your creativity as you’re constantly looking for better ways to do business.
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Even if you’re the originator of a particular business idea, if it is profitable, it’s just a matter of time before people jump on the idea. Prepare for it.
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Deal with competition with these two things; 1. Have a unique selling point (USP). 2. Rather than compete, collaborate. You’ll be thankful for it.
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You’ve been served breakfast, tag others don’t eat alone.

Peace, Love and Cold Zobo

Good morning.

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